Month: May 2017

Rates Hit New Year-Low

If you are buying or refinancing, now might be the perfect timing to lock in on your rate. According to the latest Primary Mortgage Market Survey(PMMS) Report from Freddie Mac, average mortgage rates just hit the year’s lowest as 30-year FRM fell by 7 basis points to 3.95 percent this week. Mortgage rates decreased by more than a quarter of a percentage point since the beginning of 2017. For the past months, rates held at the four-percent range and experts predict rates to climb up as much as 4.3 percent in the middle of the year, but it is...

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Does a Finished Basement Add Value to a Home?

Did you know not every change you make to your home adds value? Even expensive remodels do not always pull their weight in terms of value. A common remodel many people put a lot of weight in is the basement remodel. They assume a finished basement adds value to a home. In many cases, it does add value. However, you have to know the ins and outs of the entire process in order to see the greatest return on your investment. Just like on the main level of your home, not every change results in increased value. DIFFERENT LEVELS...

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Mortgage rates move up for Friday

Multiple closely watched mortgage rates moved higher today. The average rates on 30-year fixed and 15-year fixed mortgages both increased. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, also climbed higher. Rates for mortgages are in a constant state of flux, but they remain low by historical standards. If you’re in the market for a mortgage, it could make sense to lock if you see a rate you like. Just be sure to shop around. Compare mortgage rates in your area now. 30-year fixed mortgages The average 30-year fixed-mortgage rate...

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Bottom of the barrel mortgage rates inch higher

After nearly two months of declines, mortgage rates inched higher this week. Freddie Mac’s Primary Mortgage Market Survey (PMMS) showed the average 30-year fixed mortgage rate increasing from an average of 3.78 percent to 3.83 percent. This is the first time rates have increased in seven weeks, disrupting the steady decline that began after rates topped 4 percent in July. GET TODAY’S RATES IN YOUR AREA Context is important here — mortgage rates remain at historic lows despite five Fed rate hikes since December 2015. Freddie’s average rate in the year 2000 was 8.1 percent, while the average rate in 2006, right before the...

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